The regulator for US securities dealers has slapped $1.2m (€978,000) worth of fines on 18 brokerage firms, including Credit Suisse First Boston and Deutsche Bank Securities, over violations of rules required to perform market surveillance.

The National Association of Securities Dealers, which regulates the securities industry in the US, said the rules require firms to report details of how they handled and executed orders for Nasdaq securities. The violations included missing trade reports, inaccurate data and failures to correct reporting errors.